Australian shares open flat

The US ticked along slowly overnight while markets in Europe eased. Commsec report

THE Australian share market has opened flat following a mixed performance on Wall Street where the S&P500 reached an all-time high.

At 10.10am AEST today, the benchmark S&P/ASX200 index was up four points, or 0.08 per cent, at 5160.2, while the broader All Ordinaries index was up 3.9 points, or also 0.08 per cent, at 5137.7.

On the ASX 24, the June share price index futures contract was down eight points at 5145, with 4194 contracts traded.

In economic news today, the Reserve Bank of Australia holds its monthly board meeting and makes its interest decision.

Meanwhile, the Australian Bureau of Statistics (ABS) releases international trade in goods and services for March data, House price indexes for the March quarter and overseas arrivals and departures figures for March.

The Australian Industry Group/Housing Industry Association performance of construction index (PCI) for month just ended is also due out.

In equities news, Coca-Cola Amatil holds its annual general meeting, Orica chief executive Ian Smith is scheduled to address an American Chamber of Commerce in Australia lunch while Virgin Australia launches a new regional airline in WA.

In Australia, the market yesterday closed higher as the resources sector staged a recovery due to a jump in commodity prices.

The benchmark S&P/ASX200 index was UP 26.7 points at 5156.2 points, while the broader All Ordinaries index was up 28.4 points to 5133.8 points.

Overnight, the broad-based S&P 500 edged to a new all-time closing high, rising 3.08 (0.19 per cent) to 1617.50.

The Dow Jones Industrial Average slipped 5.07 (0.03 per cent) to 14,968.89 and the tech-rich Nasdaq Composite Index rose 14.34 (0.42 per cent) to 3392.97.

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